Complete About Bharat Bill Payment System (BBPS) Online
Registration
As part of PM Modi’s Digital India movement,
it is planned to Bharat Bill Payment System to bring ease and convenience to
charge payments in India.
The system includes an online platform and physical
outputs. BBPS is intended as generate invoices and paying bills in the country
so it is possible the immediate payment and receipt of money.
In the first phase, payment of utility
bills regularly, for example, water, electricity, gas, DTH television, phone
bills, etc. will be achieved through this platform. Later it is planned to
include all types of accounts, including tuition fees, insurance premiums, etc.
According to data presented by RBI, 20
major cities generate an invoice amount of Rs. 6.223 billion dollars a year.
Customers have the need to physically move the outputs to pay bills or use
their Web sites to pay their bills. Paytm and other platforms obviously
facilitate the process, but RBI wants more control, unify and standardize their
operations by BBPS.
The common advantage of the system is that
the bills can be paid at any time anywhere. No need to stand for hours in line.
Many practical ways, for example, payment of bills banking and online credit
cards and mobile broadband, cash, etc. would be available for customers.
Across the country the means to pay the bills will be established. These payment methods also include banks and ATMs. Customers can withdraw money and pay the bills in one place.
These payments with the National Society of India payments network are insured and guaranteed. Receipts will be issued immediately after payment. The system also includes means to avoid any kind of fraudulent transactions.
Across the country the means to pay the bills will be established. These payment methods also include banks and ATMs. Customers can withdraw money and pay the bills in one place.
These payments with the National Society of India payments network are insured and guaranteed. Receipts will be issued immediately after payment. The system also includes means to avoid any kind of fraudulent transactions.
BBPS that implies for public service
providers receive payment? Undoubtedly, fewer complications and a more
organized collections management system. Invoices will be generated and paid
online. Companies should designate collectors. This means that the operating
costs will be less. Because of this cost reduction, public service providers
would be able to offer customers various types of value-added services.
Benefits for e-commerce
At that time, different platforms use
different e-commerce payment gateways. Some are better than others, but they
have no other option, once you acquire a particular online store.
With BBPS running, you can use a
centralized payment system to pay all ecommerce platforms stored in the system.
No need to load your personal information each time a new store as a new store.
The most important thing is that your personal information will not be more
mismanaged RBI sets standards for businesses of all these integrated e-commerce
platforms.
Read Also: List Of Pradhan Mantri Yojana 2016
Benefits to the Payment Gateways
Existing payment gateways, for example,
Paytm, Oxigen etc. It will not be affected anyway. They will be integrated into
the BBPS for better service. The market is quite large and each company will
have its own share. virtual portfolios offered by these companies would be
available to pay any invoice generator.
Advertisement
No comments:
Post a Comment
If you have any query, Write in Comment Box